Garden State Investment Advisory Services LLC Lowers Holdings in Netflix, Inc. (NASDAQ:NFLX)

Garden State Investment Advisory Services LLC lowered its holdings in Netflix, Inc. (NASDAQ:NFLX) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,682 shares of the Internet television network’s stock after selling 46 shares during the quarter. Garden State Investment Advisory Services LLC’s holdings in Netflix were worth $2,391,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of NFLX. Pathway Financial Advisers LLC lifted its position in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after buying an additional 14 shares during the last quarter. Newton One Investments LLC purchased a new stake in shares of Netflix in the 4th quarter valued at approximately $34,000. Pineridge Advisors LLC lifted its holdings in shares of Netflix by 4,000.0% in the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after acquiring an additional 40 shares during the last quarter. Princeton Global Asset Management LLC boosted its position in shares of Netflix by 51.6% during the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after purchasing an additional 16 shares during the period. Finally, Decker Retirement Planning Inc. acquired a new stake in Netflix in the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Analysts Set New Price Targets

NFLX has been the topic of a number of research reports. Oppenheimer upped their price target on Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and increased their target price for the stock from $680.00 to $1,494.00 in a research note on Wednesday, January 22nd. UBS Group dropped their target price on Netflix from $1,150.00 to $1,140.00 and set a “buy” rating for the company in a research report on Tuesday. Phillip Securities cut shares of Netflix from a “hold” rating to a “moderate sell” rating in a research report on Friday, January 24th. Finally, Morgan Stanley raised their price objective on shares of Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Ten analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.31.

Insider Activity at Netflix

In other Netflix news, Director Jay C. Hoag sold 617 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total value of $604,481.07. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gregory K. Peters sold 102,228 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $980.74, for a total transaction of $100,259,088.72. Following the completion of the sale, the chief executive officer now owns 12,950 shares of the company’s stock, valued at $12,700,583. This trade represents a 88.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 274,312 shares of company stock worth $267,919,297 in the last quarter. Company insiders own 1.76% of the company’s stock.

Netflix Price Performance

NFLX stock opened at $976.28 on Wednesday. The business has a 50 day simple moving average of $957.71 and a 200-day simple moving average of $887.65. The company has a market capitalization of $417.61 billion, a P/E ratio of 49.23, a PEG ratio of 2.12 and a beta of 1.55. Netflix, Inc. has a twelve month low of $542.01 and a twelve month high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period last year, the firm posted $2.11 EPS. Netflix’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities analysts anticipate that Netflix, Inc. will post 24.58 EPS for the current year.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.